CIGNA (NYSE: CI) received a number of price target changes and ratings updates during the last week:

  • CIGNA had its “outperform” rating reaffirmed by analysts at Sanford C. Bernstein. They now have a $55.00 price target on the stock.
  • CIGNA had its “buy” rating reaffirmed by analysts at Deutsche Bank. They now have a $65.00 price target on the stock.
  • CIGNA had its price target raised by analysts at Wedbush from $53.00 to $57.00. They now have a “neutral” rating on the stock. They wrote, “Three of the 4 largest health plans now looking for commercial enrollment pressures in 2013, anticipate similar comments from WLP next week. United and Aetna both indicated there could be commercial enrollment losses, CIGNA is expecting around 2% declines in the national account segment (employers >5K and multi-state). All three companies are pointing towards a shrinking market driven by continued high unemployment, Aetna and United pointed to continued competitiveness in the market. CIGNA could see some benefit over peers driven by high retention levels.”
  • CIGNA had its price target raised by analysts at Barclays Capital from $53.00 to $60.00. They now have an “equal weight” rating on the stock.
  • CIGNA had its “buy” rating reaffirmed by analysts at Jefferies Group. They now have a $62.00 price target on the stock, up previously from $56.00. They wrote, “outstanding” 3Q results on Thursday.The analyst comments, “The company’s outstanding 3Q results, solid fundamental trends, and a couple of positive 2013 nuggets have increased our confidence in earnings power and CI’s ability to execute. Our new PT reflects a higher 2012-13 earnings outlook and slightly higher multiple on ’13 earnings, 9.9x up from 9.2x.”

CIGNA Co. traded down 1.13% on Friday, hitting $51.65. CIGNA Co. has a 52-week low of $39.01 and a 52-week high of $49.89. The company has a market cap of $14.766 billion and a price-to-earnings ratio of 9.63.

Cigna Corporation (Cigna) is a holding company. Cigna is a global health service company, with insurance subsidiaries that are providers of medical, dental, disability, life and accident insurance and related products and services.